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Current Account: The Current Account can be broken down into two parts, viz., one, balance of trade, and, two, balance on invisibles. The Balance of Trade (BOT) deals only wit
Q. Central Planning of economic system? Central Planning: An economic system in that crucial decisions regarding consumption, investment, exchange rates, interest rates and pri
regis is hungry for a snack. Here is the value he place on a cupcake: value of the first cupcake$5, value of the second cupcake $4, value of the third cupcake $3, and the value of
how has the haberlers theory of opportunity cost an improvement over the classical theory of trade
what is marginal cost
SUMMARY OF THEORY OF PRODUCTION
a) Explain the perverse incentive. b) What makes the incentive perverse? c) How could the incentive makers better the incentive?
If a minimum wage were imposed below the competitive equilibrium what would we expect to observe in the effected labor markets?
Model in economics is the permanent income hypothesis, which basically states that a household''s expenditures will not react to a change in income unless that change in income is
Question 1: (a) Discuss the adjustment to an increase in demand for a perfectly competitive market in the: (i) Short run (ii) Long run (b) How would the same industry
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